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Why is the long-run aggregate supply curve vertical in the AD-AS model?
Tariff
A tax imposed by a government on goods and services imported from other countries, often to protect domestic industries or generate revenue.
Import Quota
A government-imposed limit on the quantity of a specific type of good that can be imported into the country during a specified time period.
Domestic Industries
Industries that produce goods and services within a particular country, focusing on the local market.
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